Harnessing Mineral Resources for Inclusive Growth and Development in Nigeria

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Harnessing Mineral Resources for Inclusive Growth and Development in Nigeria

This study was funded by the United Nations Development Programme (UNDP). Through the development of a conceptual framework for exploring the relationship between mineral wealth and sustainable development, the study critically considers the question of how best to make mineral resource development a key driver in achieving sustained economic growth and inclusive development in Nigeria.

The study explores four issues central to the utilization of solid minerals for sustainable and inclusive growth and development. First is the effectiveness and efficiency of entrepreneurs and investors in converting the numerous opportunities that will emerge in harnessing mineral resources and related economic activities to achieve significant job creation, income generation, poverty alleviation and inclusive economic growth and development, given the diverse and significant risks and uncertainties that exist in the sector. Second is the extent to which domestic and foreign entrepreneurs either individually or as joint ventures will be involved in the process of developing the sector along its value chain to strengthen economic diversification through effective backward and forward linkages with the rest of the economy. Third is exploiting natural resource wealth in a socially and environmentally sustainable way, given the country’s sad history and legacy of the harnessing of oil and natural gas, another extractive industry. Fourth is the capacity of the government and other stakeholders to deal with these three key and related issues.

The study recommends an introduction of a robust and sustainable solid mineral development strategy and implementation involving diverse stakeholders, as well as the integration of the mineral sector in the economies through upstream and downstream value addition. The report can be downloaded monograph-3.pdf